Any car that you own you must have insurance on it. We know you don’t want to spend a penny more than needed on a policy and you shouldn’t have to. Knowing what affects your auto insurance rates will help you figure out how to save on your car insurance and still get great coverage. We will explain below different ways to help lower your car insurance costs.
First things first, you want to shop around.
Good thing is, here at Professional Insurance Strategies we have over 50 carriers that we can shop your insurance policies through to make sure you receive the best policy at the most affordable price.
Taking advantage of car insurance discounts is another way to save. Every insurance company offers different ways to lower your car insurance premium. Our team knows of all these discounts so make sure to ask about them when they provide you with a quote. Just because an insurer offers many discounts doesn’t mean it offers the lowest price.
One of our agents will go over that with you.
Traffic tickets and accidents will increase car insurance premiums. If you get a ticket and you are offered the opportunity to do a course to get it dismissed or reduce the number of points that go on your driving record, take full advantage of this. If points are added to your driving record, your premium will in fact increase.
Increasing your deductible can lower your premium but this can also end up costing you more in the long run if you are in an accident. The average policy carries a $500 deductible. This means you will only have to pay $500 out of pocket if you are in an accident before your insurance will start to cover. If you increase your deductible to $1,000, this may reduce your monthly premium by $10-15 per month. If you are not driving as much right now due to working from home, it might be worth looking into increasing your deductible.
Combining your insurance policies may give you discounts to customers who buy multiple policies.
If you bundle your home or boat together you may end up getting a lower rate for each. Our agents here at Professional Insurance Strategies will go over what companies offer these benefits and find you the best possible deal out there.
The more expensive your car is the more expensive the insurance on it will be. Insurance companies have different rating classes depending on the type of car that you drive. Those ratings classes will significantly impact how much you pay in auto insurance. Reasonably priced SUV’s and minivans are going to be the cheapest vehicles to insure compared to sports cars that will cost you a lot in monthly premiums. Keep this in mind when you are car shopping.
Our trusted agents here at Professional Insurance Strategies can help educate you on ways to save on your auto insurance. Call or email us today for a complimentary quote!
Did you enjoy this blog? Check out our other blogs related to the insurance industry.